Ernst & Young Foundation
- Assets
- $43.5m
- Revenue
- $27.9m
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 03/1959
- Data as of
- 06/2022
- EIN
- 13-6094489
Organization Overview
Ernst & Young Foundation is located in New York, NY. The organization was established in 1959. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ernst & Young Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Ernst & Young Foundation generated $27.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.7% each year. All expenses for the organization totaled $21.9m during the year ending 06/2022. While expenses have increased by 3.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Ernst & Young Foundation has awarded 4,865 individual grants totaling $134,890,630. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
DONOR INDIVIDUALIZED CHARITABLE ACCOUNTS - GIFTS FROM CONTRIBUTIONS BY PARTNERS AND RETIRED PARTNERS OF ERNST & YOUNG LLP FOR SPECIFIED SCHOOLS/CHARITIES.
DISASTER RELIEF
MATCHING GIFTS PROGRAM FOR HIGHER EDUCATION - SUBJECT TO CERTAINLIMITS, THE FOUNDATION MATCHES DOLLAR-FOR-DOLLAR CONTRIBUTIONS BYPARTNERS AND EMPLOYEES OF ERNST & YOUNG LLP TO ACCREDITEDEDUCATIONAL INSTITUTIONS THAT MEET CERTAIN REQUIREMENTS.
EDUCATIONAL AND SPECIAL PROJECT GRANTS - THIS ENCOMPASSES GRANTSFOR SPECIAL PROJECTS SUCH AS EDUCATION FORUMS, RESEARCH STUDIESAND GRADUATE TAX PROGRAMS AND FOR THE IMPROVEMENT OF EDUCATIONALOPPORTUNITIES FOR THE DISADVANTAGED AND OTHER SPECIAL EDUCATIONALPROJECTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter D Lease Director | Trustee | 1 | $0 |
Debi Heiskala Director | Trustee | 1 | $0 |
Michael S Solender Director | Trustee | 1 | $0 |
Derrick Steele Director | Trustee | 1 | $0 |
Ginnie Carlier President | OfficerTrustee | 1 | $0 |
Sandra Oliver Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $27,278,489 |
| Noncash contributions included in lines 1a–1f | $2,378,858 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $27,278,489 |
| Total Program Service Revenue | $0 |
| Investment income | $307,241 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $360,065 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $27,948,303 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $20,596,736 |
| Grants and other assistance to domestic individuals. | $172,666 |
| Grants and other assistance to Foreign Orgs/Individuals | $660,273 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $49,701 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,129 |
| Fees for services: Other | $396,899 |
| Advertising and promotion | $0 |
| Office expenses | $24,845 |
| Information technology | $6,586 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $21,909,835 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $28,254,191 |
| Pledges and grants receivable | $915,680 |
| Accounts receivable, net | $371,785 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $13,954,886 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $44,311 |
| Total assets | $43,540,853 |
| Accounts payable and accrued expenses | $1,443,639 |
| Grants payable | $1,058,989 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,140,550 |
| Total liabilities | $3,643,178 |
| Net assets without donor restrictions | $31,731,511 |
| Net assets with donor restrictions | $8,166,164 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $43,540,853 |
Grants Awarded
Over the last fiscal year, Ernst & Young Foundation has awarded $18,495,844 in support to 638 organizations.
| Grant Recipient | Amount |
|---|---|
ALBION COLLEGE PURPOSE: DONOR ADVISED FUND | $10,000 |
ALPORT SYNDROME FOUNDATION PURPOSE: DONOR ADVISED FUND | $10,000 |
AMERICAN HEART ASSOCIATION PURPOSE: DONOR ADVISED FUND | $26,000 |
AMAZING GRACE EQUINE SANCTUARY PURPOSE: DONOR ADVISED FUND | $5,400 |
AMERICAN RED CROSS PURPOSE: DONOR ADVISED FUND | $19,250 |
ANNUNCIATION CATHOLIC CHURCH PURPOSE: DONOR ADVISED FUND | $15,250 |